Canada Cobalt Works CEO: Underground Drilling Yields Better Results

Canada Cobalt Works (TSXV:CCW) CEO Frank Basa spoke to Investing News Network (INN) about his company’s Northern Ontario cobalt camp and how exploring from within the underground workings has had numerous benefits.

In the interview below, Basa outlines the advantages of exploring underground and how this saves costs and time and yields better results. He also discusses the importance of the Castle project.

Below are a video and transcript of our interview with Canada Cobalt Works CEO Frank Basa. The transcript has been edited for clarity and brevity.

INN: Please provide an overview of Canada Cobalt Works (CCW) and its flagship property in the Northern Ontario cobalt camp.

Canada Cobalt Works CEO Frank Basa: We have three initiatives we’re working on at the same time. The first is a large exploration program that will be conducted underground. The second is to acquire a permit so we can install a 600-ton-per-day mill on our Castle project site. Finally, we’re producing product. We are trying to produce cobalt sulfate for the battery market in Asia. 

INN: Unlike most players in the region, CCW has had the opportunity to conduct its exploration and sampling work underground. Please explain the advantage that this provides the company. 

FB: When you venture underground, exploration is cheaper, gives you better results and it allows you to quickly move to production. Obtaining the permits for underground exploration took 16 months. The fact that we already have the permits and can work underground is a great saving for us and a major advantage.

INN: We understand that part of CCW’s upcoming work includes draining the historic Castle mine. What will follow once this is done and how does that fit into the company’s long-term plans? 

FB: We’re working on the permits for the underground and the mill, and our intent is to dewater the underground workings. The underground workings at the Castle mine are vast and it will take us two to three years to dewater. Once we dewater, we’ll explore by level, develop a resource and, if permitted, start mining.

INN: Please explain the proprietary Re-2OX hydrometallurgical process. How will this contribute to CCW’s work in the Northern Ontario cobalt camp?

FB: All cobalt mines have undesirables in their concentrate. The only way to remove those undesirables is with the Re-2OX process. The process can remove the undesirables like arsenic in our concentrate and this process then also separates out the metals. This helps us to meet the demand of cobalt sulfate and nickel sulfate for clients in Asia. Without this process, all the assets in the cobalt camp are worthless if nobody can take out the undesirables. 

INN: And how does CCW and its approach to exploration compare to other cobalt projects in the region?

FB: We know what we are doing, so to speak. We’ve been in the cobalt camp for about 30 years off and on. The camp itself is extremely rich in cobalt, but the veins are hard to quantify. The best way to quantify them is by drilling from underground, which is why we decided to go underground.

CEO interviews are part of investor education campaigns for clients advertising on the Investing News Network. Important news is contextualized by CEOs, and the resulting interviews are disseminated to the Investing News Network audience because they have value to market watchers.

The Investing News Network interviews a CEO for an understanding of their perspective on the company, the investment potential of the company and market news related to the company. The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities.

The interview below was originally published in February 2018 and has been updated. Please scroll up for the most recent interview.

In his interview with the Investing News Network, Canada Cobalt Works (TSXV:CCW) President Frank Basa provided an overview of the company’s progress as a cobalt exploration and development company.

Highlighting key exploration points and upcoming exploration initiatives, Basa indicated that the company’s long-term goal is to become a cobalt producer.

Canada Cobalt Works, formerly Castle Silver Resources, recently changed its name and symbol as a result of its success in identifying cobalt deposits within Ontario’s Cobalt Camp.

Below is a transcript of our interview with Canada Cobalt Works President Frank Basa. It has been edited for clarity and brevity.

Investing News Network: Please give our investor audience an overview of Canada Cobalt Works and its cobalt exploration initiatives.

Canada Cobalt Works President Frank Basa: Canada Cobalt Works has three properties in the Cobalt Camp, which has some of the highest cobalt grades. One of these is the Castle silver mine, a high-grade cobalt-silver property measuring 2,400 hectares. The mine was one of the most producing in the camp, having produced at grades of 80 ounces per ton silver.

INN: Please tell us about the exploration activities you have conducted on your cobalt projects to date. Are there any findings you would like to highlight?

FB: So far, we have conducted drilling on the property that has provided exceptional results. Our average grades are over 1 percent cobalt and we have significant silver values.

Right now, we are going underground. We have the only accessible adit on the camp and we are taking large bulk samples with high-grade cobalt.

INN: What is next for the Canada Cobalt Works cobalt projects and how does that fit into the company’s long-term plans?

FB: The long-term objective for Canada Cobalt Works in the Cobalt Camp is actually to become a producer. We’re doing a very large bulk sample as I indicated. We’re looking at building a mill at the Castle property, and we also have a process called the Re-2OX process, which can separate silver and cobalt and transform the cobalt into battery minerals.

INN: Savvy investors know strong management is key to a company’s success. Are there any executives you would like to highlight on your board and management team?

FB: Our board is made up of hands-on people that have been in the industry for a long time. We are also among the only junior exploration companies to have First Nations representation on our board, which we find as critical to the success of our project in the Cobalt Camp.

CEO interviews are part of investor education campaigns for clients advertising on the Investing News Network. Important news is contextualized by CEOs, and the resulting interviews are disseminated to the Investing News Network audience because they have value to market watchers.

The Investing News Network interviews a CEO for an understanding of their perspective on the company, the investment potential of the company and market news related to the company. The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities.